News Reedy Creek Improvement District and the Central Florida Tourism Oversight District

[Sir_Cliff]

What’s worse is that a number of those involved has claimed/admitted that they didn’t do any research! The governor claims he didn’t even know what it was until recently. Rep. Fine said during the special session that he didn’t consult anyone. We have a whole group of politicians who proudly proclaim that they’re bad at their jobs and people love them for it!

This is the thing. I understand some in this thread have expressed a lack of faith in politicians and government more generally. Surely, though, the solution is not just to have those in power just passing all sorts of random legislation without taking any time to look into the consequences? I don't know whether people just find this sense that norms and rules don't apply anymore somewhat exhilarating? Just go with your gut and hang on for the ride!

 

[Chip Chipperson]

No, bonds sold to fund these items are on the books of RCID not WDW.

Bond liabilities need to be on WDW books

I have some questions.

1. How does dissolving RCID put those bonds on Disney's balance sheet if they would transfer to the counties upon dissolution? These are municipal bonds, so they can't be the liability of a non-municipal entity and they can't just change the terms of the bonds after they're issued.

2. Who is harmed by the current arrangement?

 

[flynnibus]

This is the thing. I understand some in this thread have expressed a lack of faith in politicians and government more generally. Surely, though, the solution is not just to have those in power just passing all sorts of random legislation without taking any time to look into the consequences? I don't know whether people just find this sense that norms and rules don't apply anymore somewhat exhilarating? Just go with your gut and hang on for the ride!

It's simply because the mob accepts things that align with their desires. "consequences" are things the lay just can't be bothered with. You see this everywhere... people discount planning or impact as long as they think it gets them what they want now.

The majority of the people can't be bothered with consequence.. they just want satisfaction for them, and if they think they get that... YES! Being told it will screw them later? That's later's problem and they can blame someone else then.

This applies to nearly every social topic
- Spending/Budgeting
- Land Use
- Development
- Immigration
etc etc etc

Sure in many situations you have to weigh what the consequences are, their probability, and their impact.. and if they are worth risking. But the majority simply can't be bothered to invest that much effort into stuff. They want the lazy payoff now.

 

[Nubs70]

And this harms who? Why does it matter? Disney pays the extra taxes that finance those bonds.

It matters because DIS is a large enough company to issue their own bonds and have the liabilities reflected on DIS books.

 

[flynnibus]

I have some questions.

1. How does dissolving RCID put those bonds on Disney's balance sheet if they would transfer to the counties upon dissolution? These are municipal bonds, so they can't be the liability of a non-municipal entity and they can't just change the terms of the bonds after they're issued.

2. Who is harmed by the current arrangement?

Obviously the poster is not talking about past bonds but about a matter of principal in how things are done going forward.

on 2 - people perceive the arrangement as an unnecessary perk for Disney.

 

[lazyboy97o]

It matters because DIS is a large enough company to issue their own bonds and have the liabilities reflected on DIS books.

So what is the threshold of company size? Are we basing this on revenue, market capitalization, a combination of factors? Do taxes not show up on the books?

 

[Nubs70]

Any company, any size.

Pay for your own infrastructure.

 

[mikejs78]

Any company, any size.

Pay for your own infrastructure.

So should the mom and pop bakery pay for the road that their store is on?

 

[lazyboy97o]

Any company, any size.

Pay for your own infrastructure.

You clearly don’t seem to actually understand the situation. Disney does pay for their own infrastructure. They pay more than anybody else in the area. You clearly think the financing mechanism has some sort of duplicitous purpose but don’t actually know which is why you refuse to speak in any sort of coherent or specific manner.

 

[Club Cooloholic]

I totally agree they were denied because of their views and if they were allowed, the outcry from social media would tremendous; causing protests in the airport etc.

The US is now run by a small subset of folks on social media. What they say, goes.

Geez, here I thought it was the billionaires. Thanks for the heads-up Steve.

 

[Nubs70]

So should the mom and pop bakery pay for the road that their store is on?

No, as the road is outside of their property line. The Mom and Pop bakery should definitely pay for their parking lot and sidewalks if so determined by local zoning laws.

 

[mikejs78]

No, as the road is outside of their property line. The Mom and Pop bakery should definitely pay for their parking lot and sidewalks if so determined by local zoning laws.

The roads in question being built for Uni fall outside of their property lines. Some of Disney's too, I imagine.

 

[GimpYancIent]

You clearly don’t seem to actually understand the situation. Disney does pay for their own infrastructure. They pay more than anybody else in the area. You clearly think the financing mechanism has some sort of duplicitous purpose but don’t actually know which is why you refuse to speak in any sort of coherent or specific manner.

So, the funds are now going to be routed through the county rather than RCID. Seems more streamline.

 

[mikejs78]

So, the funds are now going to be routed through the county rather than RCID. Seems more streamline.

Except who pays those funds now? Not Disney.

 

[lazyboy97o]

So, the funds are now going to be routed through the county rather than RCID. Seems more streamline.

No, they are not. This has been explained several times before. Taxes paid to the District are on top of existing county taxes. The counties can’t just impose extra property taxes.

 

[mmascari]

It would change to Disney control adjacent to the MK guest parking lot and then remain Disney until shortly before RCFD station 3

Interesting.

Any idea where near the parking lot? I ask because, depending on where it makes the change, the World Drive fly over could be either, which would be a big deal in this discussion. Which, if that part of World Drive is Disney not RCID, how far south could that line be pushed? If the spot is more like Seven Seas drive or later, that's different.

With RCID and Disney closely aligned, none of the differences really matter. That ability to carve out easements and flip back and forth between "public" vs "private" roads and not really need to care. With the county, that would need to be managed closer.


On a tangent of a note, but one that plays into this difference, if protesters wanted to set up outside of the Magic Kingdom, they would need to know where this line is. They could be kept off of the private property but be allowed to protest on the RCID property. Back in my nuclear days, there was a fence (with no gate) at the parking lot entrance. Then, another fence, gate, and guardhouse, and it meant business. I asked about the difference and was told the outer one was to determine how close protesters could get while the second one was actual security.

 

[flynnibus]

You clearly don’t seem to actually understand the situation. Disney does pay for their own infrastructure. They pay more than anybody else in the area. You clearly think the financing mechanism has some sort of duplicitous purpose but don’t actually know which is why you refuse to speak in any sort of coherent or specific manner.

You're not wrong - but you're not addressing the point she's making. That the spend is accounted for different in this situation - which is very true.

 

[flynnibus]

No, as the road is outside of their property line. The Mom and Pop bakery should definitely pay for their parking lot and sidewalks if so determined by local zoning laws.

And then when someone builds the new hot thing in town... that increases traffic, and overloads the existing traffic light at the intersection. Then what?

Or the developer builds 1,000 new homes and drives up all the traffic on what was a farm road before. Then what?

 

[lazyboy97o]

You're not wrong - but you're not addressing the point she's making. That the spend is accounted for different in this situation - which is very true.

I’m just familiar with the tires game. Technically true statements with no discussion of context or details because a bogus point is being made.

 

[mmascari]

Any company, any size.

Pay for your own infrastructure.

Move the ticket booths out, put them right on the I-4 off ramps.

Otherwise, it's not their own infrastructure.